Five property classes
4/3/2004 14:49
Currently, Shanghai's residential properties can be classified in five
levels:
* High-end housing: each unit is priced at a minimum 8,000 yuan
(US$964) per square meter and with more than 150 square meters in area for a
total price of more than one million yuan; mainly high-end apartments in local
downtown areas and villas in the suburban areas.
* Mid to high-end housing:
each unit is priced at between 5,000-8,000 yuan per square meter and is from 100
to 150 square meters in area, with a total price of 600,000-1 million yuan;
mainly located near the city's Inner Ring Road.
* Mid-range housing: each
unit is priced between 3,000-5,000 yuan per square meter and is between 90 and
100 square meters in area, with a total price of 400,000-600,000 yuan; located
between the city's Inner Ring Road and Outer Ring Road
* Mid and low-end
housing properties: each unit is priced between 3,000-3,500 yuan per square
meter and is between 60-90 square meter in area, with a total price of
300,000-400,000 yuan; mainly located outside the Outer Ring Road
* Low-end
housing: each unit is priced below 3,000 yuan per square meter and with 50-60
square meters in area, with a total price of around 200,000 yuan; located in the
local suburban areas.
The classification is based on the existing demand
structure of the local residential housing market, and will change as a result
of the increasing income, urban development and population structure changes of
the city, an industry analyst pointed out.
Wendy Zhang/ Shanghai Daily news
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